Jeff Bezos Becomes World’s Richest Person after losing briefly to Bernard Arnault Owner Of The Louis Vuitton Moet Hennessy
Post created on 4:31 pm
French fashion tycoon Bernard Arnault briefly became world’s richest person on Monday morning, hours before Jeff Bezos rose back to number one on the Forbes list. Arnault rose with an estimated net worth of $186.3 billion—putting him $300 million above Jeff Bezos, who is worth $186 billion, and Elon Musk, worth $147.3 billion.
Arnault’s fortune has jumped from $76 billion in March 2020 to $186.3 billion on Monday, a massive rise of over $110 billion in the past 14 months, thanks to a pandemic-defying performance by his luxury group LVMH (Louis Vuitton Moët Hennessy).
LVMH, which also owns household names like Fendi, Christian Dior and Givenchy, rose 0.4% during the first hours of trading on Monday, putting its market cap at $320 billion and pushing Arnault’s personal stake up by more than $600 million.
Jeff Bezos didn’t have to wait long to reclaim his throne as the richest person in the world: A few hours after losing the title to Bernard Arnault, herose back to No. 1 after Amazon’s shares ticked up when markets opened in New York on Monday.